Round-up of South Korean financial markets:

 

** South Korean shares fell nearly 1% on Wednesday to hit their lowest in more than two months as worries about a delay in U.S. interest rate cuts and heightening tensions in the Middle East persisted.

** The won rebounded from a 17-month low as policymakers warned of intervention in the currency market, while the benchmark bond yield rose.

** The benchmark KOSPI closed down 25.45 points, or 0.98%, at 2,584.18, falling for the fourth straight session and marking its lowest level since Feb. 6.

** Top U.S. Federal Reserve officials including Chair Jerome Powell backed away on Tuesday from providing any guidance on when interest rates may be cut, saying instead that monetary policy needed to be restrictive for longer.

** "The market sentiment was rather calmer than yesterday, although the U.S. rate issue and geopolitical risks remain," said Park Kwang-nam, analyst at Mirae Asset Securities.

** Among index heavyweights, chipmaker Samsung Electronics fell 1.38% and peer SK Hynix lost 0.22%, while battery maker LG Energy Solution slid 0.41%.

** Hyundai Motor shed 3.51% and its affiliate Kia Corp lost 1.39%.

** Celltrion ended down 0.58% even as the biopharmaceutical manufacturer announced stock repurchase and share cancellation plans.

** Foreigners were net sellers of shares worth 179.6 billion won ($129.57 million) on the main board.

** The won ended onshore trade 0.56% higher at 1,386.8 per dollar, a day after the currency hit the 1,400-mark for the first time since early November 2022.

** The finance ministers of Japan and South Korea expressed serious concerns about the recent depreciation of their local currencies, South Korea's finance ministry said on Wednesday.

** South Korea's central bank is ready to deploy measures to stabilise the dollar-won market if needed, Governor Rhee Chang-yong said.

** The most liquid three-year Korean treasury bond yield rose by 1.1 basis points to 3.479%, while the benchmark 10-year yield rose by 2.8 basis points to 3.642%. ($1 = 1,386.1300 won) (Reporting by Jihoon Lee; Editing by Shounak Dasgupta)